Mac Corporations capital stock transactions for the month of January are summarized below:

Jan. 01	The corporation was authorized to issue 50,000 preference shares with a par value of P150 per share and 100,000 ordinary shares with a stated value of P100 per share. The minimum requirements as to the subscriptions and payment were met by the five (5) incorporators.
03	Cash subscription received, 20,000 preference shares at P160 per share and 30,000 ordinary shares at P102 per share.
05	Issued 200 ordinary shares to a lawyer who drafted the Articles of Incorporation and Corporate By-Laws whose bill for the services rendered was P25,000.
10	Received subscriptions for 10,000 ordinary shares at P104 per share, receiving a 25% down payment.
12	Received subscriptions for 5,000 preference shares at P155 per share, receiving a down payment of 40%.
25	Collected the balance due from the subscriptions received on January 10 and issued the corresponding stock certificates.
26	Issued 2,000 ordinary shares in exchange for a 150 square meter lot, appraised at P220,000.
27	Issued 500 preference shares in exchange for equipment with a market price of P80,000.
28	Issued 300 shares to a bank as payment for a loan made earlier in the amount of P38,000.
30	Collected the balance of the subscriptions on January 12 with the corresponding stock certificates being issued.

Using the memo entry method, prepare the journal entries to record the aforementioned transactions and the Shareholders Equity section of the Balance Sheet.